Horizon Investments LLC Decreases Stock Position in Palo Alto Networks, Inc. $PANW

Key Points

• Horizon Investments cut its stake in Palo Alto Networks by 21.6% in Q4, selling 5,918 shares and leaving it with 21,432 shares worth about $3.95 million.
• Insider activity was notable: CEO Nikesh Arora bought 68,085 shares for roughly $9.99 million (avg. $146.87), while other insiders have sold recently (30,356 shares worth ~$4.98M over 90 days), leaving insiders with 1.40% ownership.
• Palo Alto Networks topped expectations in its last quarter with $1.03 EPS vs. $0.94 expected and revenue of $2.59B (up 14.9% YoY); analysts have an average rating of "Moderate Buy" and a consensus target of about $210.07.

Horizon Investments LLC cut its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 21.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,432 shares of the network technology company's stock after selling 5,918 shares during the period. Horizon Investments LLC's holdings in Palo Alto Networks were worth $3,948,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PANW. Darwin Wealth Management LLC purchased a new position in Palo Alto Networks in the 2nd quarter valued at about $25,000. Steph & Co. lifted its holdings in Palo Alto Networks by 88.2% in the 4th quarter. Steph & Co. now owns 143 shares of the network technology company's stock valued at $26,000 after purchasing an additional 67 shares in the last quarter. Winch Advisory Services LLC lifted its holdings in Palo Alto Networks by 96.1% in the 3rd quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company's stock valued at $30,000 after purchasing an additional 73 shares in the last quarter. Caitlin John LLC purchased a new position in Palo Alto Networks in the 3rd quarter valued at about $31,000. Finally, Painted Porch Advisors LLC lifted its holdings in Palo Alto Networks by 72.7% in the 3rd quarter. Painted Porch Advisors LLC now owns 152 shares of the network technology company's stock valued at $31,000 after purchasing an additional 64 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Price Performance

NASDAQ PANW opened at $181.10 on Monday. Palo Alto Networks, Inc. has a 12 month low of $139.57 and a 12 month high of $223.61. The company has a 50-day moving average of $163.46 and a 200-day moving average of $181.00. The company has a market cap of $147.78 billion, a P/E ratio of 100.05, a P/E/G ratio of 6.53 and a beta of 0.77.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The network technology company reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.09. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the prior year, the company posted $0.81 EPS. The company's quarterly revenue was up 14.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Palo Alto Networks, Inc. will post 2.14 EPS for the current year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, Director John P. Key sold 1,572 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $173.32, for a total transaction of $272,459.04. Following the transaction, the director directly owned 20,000 shares of the company's stock, valued at $3,466,400. The trade was a 7.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Nikesh Arora acquired 68,085 shares of the firm's stock in a transaction on Friday, March 27th. The shares were acquired at an average price of $146.87 per share, with a total value of $9,999,643.95. Following the completion of the purchase, the chief executive officer owned 343,394 shares of the company's stock, valued at $50,434,276.78. This trade represents a 24.73% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have sold 30,356 shares of company stock worth $4,981,575. Corporate insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Stifel Nicolaus reduced their target price on shares of Palo Alto Networks from $200.00 to $185.00 and set a "buy" rating on the stock in a report on Wednesday, February 18th. UBS Group set a $183.00 target price on shares of Palo Alto Networks in a report on Thursday, February 19th. Robert W. Baird set a $220.00 target price on shares of Palo Alto Networks and gave the company an "outperform" rating in a report on Wednesday, February 18th. Benchmark assumed coverage on shares of Palo Alto Networks in a report on Wednesday, April 1st. They issued a "buy" rating and a $200.00 target price on the stock. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $220.00 target price on shares of Palo Alto Networks in a report on Wednesday, February 18th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, Palo Alto Networks has an average rating of "Moderate Buy" and a consensus target price of $210.07.

About Palo Alto Networks

Palo Alto Networks NASDAQ: PANW is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company's product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.

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